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Hup Seng Industries Q3 profit climbs 79.1% YOY

Hup Seng Industries Bhd. said its third-quarter normalized net income came to 9.7 million ringgits, a rise of 79.1% from 5.4 million ringgits in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 15.0% from 9.7% in the year-earlier period.

Total revenue climbed 15.3% year over year to 64.4 million ringgits from 55.9 million ringgits, and total operating expenses grew from the prior-year period to 49.0 million ringgits from 47.2 million ringgits.

Reported net income increased 85.0% on an annual basis to 11.6 million ringgits, or 1 sen per share, from 6.3 million ringgits, or 1 sen per share.

As of Nov. 17, US$1 was equivalent to 4.39 ringgits.